Exam Details
| Subject | taxation (paper – ii) | |
| Paper | ||
| Exam / Course | m.com. | |
| Department | ||
| Organization | solapur university | |
| Position | ||
| Exam Date | March, 2018 | |
| City, State | maharashtra, solapur |
Question Paper
M.Com. (Semester (CBCS) Examination Mar/Apr-2018
TAXATION (Paper II)
Time: 2½ Hours
Max. Marks: 70
Instructions: All questions are compulsory. Figures to the right indicate full marks.
Q.1
Choose the alternatives given below.
14
is the highest executive authority of the department of income tax.
CBDT
CBIT
Central Government
State Government
CBDT works under ministry of Central Government.
Revenue
Defense
Finance
Rail
Director General (Income Tax) is appointed by
Central Government
State Government
Chief Minister
None of these
Inspectors of Income tax are appointed by
Commissioner of Income Tax
Central government
State government
Commissioner of Municipal corporation
Form no 16 is a certificate issued by an employer towards deduction of
Interest
Penalty
TDS
All of these
Form No 16 has parts.
Two
Three
One
Four
Form No 24 Q is related to
Income Tax
TDS
GST
All of these
signature is necessary to upload income tax return in case of tax audit.
Manual
Signature by black ink
Digital
None of these
Political parties need not maintain all books and records as prescribed under section of the income tax act.
44AA
41A
44AD
None of these
10) The interest for late payment is set at simple interest on the amount of tax due.
15%
30%
10%
Page 2 of 2
SLR-CX-9
11) As per section 208, every person whose estimated tax liability for the year is Rs. or more, shall pay his tax in advance, in the form of Advance Tax.
12) All tax payers are required to pay up to 45% of advance tax by
15th June
30th June
15th September
30th September
13) Assessee opting section 44AD is required to pay advance tax by
15th June
30th June
15th September
None of these
14) To pay e tax challan is required.
280
300
100
260
Q.2
Write short notes on the following.
14
E payment of Income Tax Procedure
Form 16A
Q.3
Write short notes on the following.
14
Self Assessment Challan
Income Tax Authorities
Q.4
Explain in detail interest payable and receivable under Income Tax Act.
14
OR
Explain in brief provisions related to Advance Tax and Tax Deducted at Source.
14
Q.5
What are the powers with income tax authorities, explain in brief.
14
OR
From the following details furnished by Mr. Mahesh, Karta of Hindu Undivided Family, compute total income for the assessment year 2017 18.
14
Profits from business
60000
Salary received by a member of the family from his service in a college
10000
LIC Premium on life of family members paid by Karta
2000
Directors fees received by the Karta
6570
Annual rental value of the property let out
12000
Municipal Taxes Paid
600
Interest on bank deposit
450
Donation to Veershaiv College (Approved)
8000
Marriage expenses of daughter of Karta
10000
The family has sold on 1.12.2015 its open site for Rs. 108480/- which was purchased on 1.06.1987 for Rs. 15000. The cost inflation indices for the financial years 1987-88 and 2016-17 were 150 and 1125 respectively.
TAXATION (Paper II)
Time: 2½ Hours
Max. Marks: 70
Instructions: All questions are compulsory. Figures to the right indicate full marks.
Q.1
Choose the alternatives given below.
14
is the highest executive authority of the department of income tax.
CBDT
CBIT
Central Government
State Government
CBDT works under ministry of Central Government.
Revenue
Defense
Finance
Rail
Director General (Income Tax) is appointed by
Central Government
State Government
Chief Minister
None of these
Inspectors of Income tax are appointed by
Commissioner of Income Tax
Central government
State government
Commissioner of Municipal corporation
Form no 16 is a certificate issued by an employer towards deduction of
Interest
Penalty
TDS
All of these
Form No 16 has parts.
Two
Three
One
Four
Form No 24 Q is related to
Income Tax
TDS
GST
All of these
signature is necessary to upload income tax return in case of tax audit.
Manual
Signature by black ink
Digital
None of these
Political parties need not maintain all books and records as prescribed under section of the income tax act.
44AA
41A
44AD
None of these
10) The interest for late payment is set at simple interest on the amount of tax due.
15%
30%
10%
Page 2 of 2
SLR-CX-9
11) As per section 208, every person whose estimated tax liability for the year is Rs. or more, shall pay his tax in advance, in the form of Advance Tax.
12) All tax payers are required to pay up to 45% of advance tax by
15th June
30th June
15th September
30th September
13) Assessee opting section 44AD is required to pay advance tax by
15th June
30th June
15th September
None of these
14) To pay e tax challan is required.
280
300
100
260
Q.2
Write short notes on the following.
14
E payment of Income Tax Procedure
Form 16A
Q.3
Write short notes on the following.
14
Self Assessment Challan
Income Tax Authorities
Q.4
Explain in detail interest payable and receivable under Income Tax Act.
14
OR
Explain in brief provisions related to Advance Tax and Tax Deducted at Source.
14
Q.5
What are the powers with income tax authorities, explain in brief.
14
OR
From the following details furnished by Mr. Mahesh, Karta of Hindu Undivided Family, compute total income for the assessment year 2017 18.
14
Profits from business
60000
Salary received by a member of the family from his service in a college
10000
LIC Premium on life of family members paid by Karta
2000
Directors fees received by the Karta
6570
Annual rental value of the property let out
12000
Municipal Taxes Paid
600
Interest on bank deposit
450
Donation to Veershaiv College (Approved)
8000
Marriage expenses of daughter of Karta
10000
The family has sold on 1.12.2015 its open site for Rs. 108480/- which was purchased on 1.06.1987 for Rs. 15000. The cost inflation indices for the financial years 1987-88 and 2016-17 were 150 and 1125 respectively.
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